2019-11-30_Techlife_News

(Darren Dugan) #1

help an aging nation. In May, Best Buy acquired
Critical Signal Technologies, a provider of
personal emergency response systems and
telehealth monitoring services for at-home
seniors. In August, it bought the predictive
health care technology business of BioSensics
and hired its data science and engineering team.
Last year, it purchased Great Call, which provides
emergency response devices for the aging.


This holiday season the company began
offering next day shipping for any sized order on
thousands of items following similar maneuvers
by Walmart and Amazon.


The company posted third-quarter profits
of $293 million, or $1.10 per share. Earnings,
adjusted for one-time gains and costs, were
$1.13 per share, easily topping Wall Street’s per-
share projections of $1.04, according to a survey
by Zacks Investment Research.


Revenue was $9.76 billion, also exceeding
expectations.


Same store sales rose 1.7%, marking 11
consecutive quarters of gains.


For the current quarter ending in January, Best
Buy expects its per-share earnings to range from
$2.65 to $2.75. Analysts surveyed by Zacks had
forecast adjusted earnings per share of $2.64.


The company said it expects revenue in the
range of $14.75 billion to $15.15 billion. Analysts
surveyed by Zacks had expected revenue
of $15.06 billion.


Best Buy expects full-year earnings in the
range of $5.81 to $5.91 per share, with revenue
ranging from $43.2 billion to $43.6 billion.


Shares of Best Buy, up 40% this year, jumped 8%
in early trading to a new high for the year.

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